Same Old Story

More and more I am getting the feeling that I am wasting my time. It's not that long ago, that I was saying that earning the minimum wage would be an achievement - and I was happy when I started to do so. Now I am regularly struggling to make that hourly wage in a day.

I'm still being plagued by the very bad habit of winning nicely on one race, then immediately giving it back again on the next. None more so than this afternoon, where I started off by scratching the first 4 races. I then opened my account with a satisfying £6.72 profit. Unfortunately, I followed that up by finding myself £2.50 down in the next which I then made worse by continually going back in to retrieve the situation. I finally saw sense when I was nearly £10 down and I moved on to the next race.

I continued to trade blows like that only to end the afternoon with the staggering profit of 71 pence! Even then, this was only managed thanks to me taking a free bet in the 5:10 at Salisbury.

It has always been my intention to bet/hedge/trade in the place markets with a view to boosting profits. However, I was only ever going to do it if I was able to generate enough pre-race trading profit in the race concerned. So, generally speaking, I haven't been able to create enough cash to allow me to do this - certainly not in recent weeks anyway.

Fortunately, the 5:10 saw me amass nearly £6 so I decided to put £2 of that on 'Follow The Band' which was trading at 7.80. I immediately placed a corresponding lay bet at 1.86 to guarantee me more than £6 from that runner alone - if it was matched. Not long into the race, most of my lay was taken giving me a minimum return of more than £4 over and above the money I'd already got on other runners.

The evening session went a bit better for me, up to a point. I immediately started stringing a few decent trades together and after the first 5 races was £15 or so up on the day. I then hit a run of three losing races which saw me halve that. At that point I decided not to risk what was remaining and called it a night.

I traded 19 markets today, scratching 5 and losing 7 at a cost of £24.01. Over 5 hours spent to gain just £7.76. It seems an absolute eternity since I last had a decent day and didn't feel that I was wasting my time. There's always tomorrow...

3 comments:

Graeme Dand said...

Mate,

If we could string together my wins with your small losses, we’d be the perfect trader!

Yesterday, I traded like a dream apart from a 5 minutes spell when the horse I was trading doubled in price and I was looking at a red loss. I then made things twice as worse by forgetting about the Rule 4 when my horse was withdrawn and getting into trouble on the favourite when it hosed home!

I think it’s funny that we both appear to be having a nightmare month at the same time. Maybe it’s a blog curse that after 5 months of blogging, you struggle for a month or so.

I’m praying for July to end to be honest as I’m sure you are also.

Good luck for the last week or so this month! We can both do with some……

Graeme

The final furlong said...

Hi Alistair it is a shame to see you struggling at the moment, however your losses have been very small at the most I think and yes it is dissapointing to be treading water but I am sure the profits will start to come again, maybe it is time to take a couple of days off just so you can come back to it with a clear head and a fresh pair of eyes.
Can I just ask, I presume that from you trading the pre race markets to secure profit for inrunning trading that you stake a lot heavier pre race, than you do when the race is off.
Also are you looking for a much smaller price swing when the race is being run than you do pre-race in order to maintain most of your profit from your pre race trading, as your trading on follow the band would indicate a different method?
Keep looking at the big picture - if someone had said that you would be able to turn £10 to £1000 would you have believed them!!

Alistair said...

Hi chaps and thanks for the comments.

I know I keep harping on about my poor performance and yet, compared to other traders, my losses are indeed small. However, having got myself to the situation where I was regularly making £25-£50 each day, my current daily performance makes it seem like I am losing much more.

I'll certainly be glad when this frustrating month comes to an end.

With regard to in-running trading, if you don't mind TFF, I'll answer your question later. I think it deserves a separate posting all on it's own as there are a number of things I'd like to touch on in response.

I'll try and get that up in the next couple of days.

Cheers

Alistair